CenturyLink Inc. (CTL) Given Consensus Recommendation of “Hold” by Brokerages
Shares of CenturyLink Inc. (NYSE:CTL) have earned a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the company. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $28.60.
CTL has been the subject of a number of research analyst reports. Evercore ISI started coverage on CenturyLink in a research note on Tuesday, June 21st. They issued a “hold” rating and a $28.00 target price for the company. Vetr upgraded CenturyLink from a “strong sell” rating to a “hold” rating and set a $29.00 price objective for the company in a research note on Wednesday, July 6th. Macquarie started coverage on CenturyLink in a research note on Monday, July 11th. They set a “neutral” rating and a $31.00 price objective for the company. Morgan Stanley lowered CenturyLink from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $31.00 to $27.00 in a research note on Monday, July 18th. Finally, Zacks Investment Research lowered CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, August 5th.
CenturyLink (NYSE:CTL) traded up 0.18% during trading on Wednesday, hitting $27.69. The stock had a trading volume of 953,211 shares. The company has a market cap of $15.12 billion, a price-to-earnings ratio of 15.50 and a beta of 0.80. CenturyLink has a 52-week low of $21.94 and a 52-week high of $32.94. The firm’s 50-day moving average price is $27.75 and its 200-day moving average price is $29.14.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The company earned $440 billion during the quarter, compared to analyst estimates of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. Analysts predict that CenturyLink will post $2.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 7.81%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s dividend payout ratio is currently 120.67%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in shares of CenturyLink during the first quarter valued at $109,000. Bessemer Group Inc. raised its stake in CenturyLink by 44.5% in the first quarter. Bessemer Group Inc. now owns 3,450 shares of the company’s stock valued at $110,000 after buying an additional 1,062 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in CenturyLink by 14.7% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,892 shares of the company’s stock valued at $113,000 after buying an additional 500 shares during the last quarter. Washington Trust Bank raised its stake in CenturyLink by 1.6% in the third quarter. Washington Trust Bank now owns 4,672 shares of the company’s stock valued at $128,000 after buying an additional 75 shares during the last quarter. Finally, Bellwether Investment Group LLC purchased a new stake in CenturyLink during the second quarter valued at approximately $134,000. Institutional investors and hedge funds own 73.33% of the company’s stock.
CenturyLink Company Profile
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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